New York Mortgage Rates & Home Prices (2026)
Median price: $425,000 · Avg. rate: 6.82%
New York Market Overview
$425,000
Median Home Price
6.82%
Avg. 30-Yr Rate
1.72%
Property Tax Rate
54.1%
Homeownership Rate
New York's housing market is split between extremely expensive NYC metro and much more affordable upstate regions. The statewide median is misleading due to this disparity. NYC's HomeFirst program uniquely offers up to $100,000 in DPA for qualifying buyers.
Estimated Monthly Payment
Median home in New York (20% down, 30-yr fixed)
$3,007/mo
Principal & Interest$2,221
Property Taxes$609
Home Insurance (est.)$177
Total Monthly (PITI)$3,007
Based on a $425,000 home with 20% down ($340,000 loan) at 6.82%. Does not include PMI, HOA, or other fees.
First-Time Buyer Programs in New York
- SONYMA Achieving the Dream
- SONYMA Down Payment Assistance
- HomeFirst DPA up to $100K
Contact your state's Housing Finance Agency for current program availability and requirements.
Rate Comparison: NY Rates
30-Year Fixed6.82%
15-Year Fixed6.04%
5/1 ARM (est.)6.07%
FHA 30-Year6.67%
VA 30-Year6.57%
Rates are estimates based on state averages and may vary by lender and borrower qualifications.
Frequently Asked Questions
Key Stats: NY
FHA Loan Limit$1,149,825
Median Income$75,910
Cost Index1.32x